Table of Contents
eToro is an outstanding online broker that offers the best trading experience to its customers. The broker started its operations in 2007 and now operates in more than 140+ countries and millions of active traders. The brokerage firm is highly regulated and authorised by various regulatory bodies across the globe. Let’s see the detailed eToro review based on multiple factors and services.
The broker offers the ability to trade on more than 2000+ trading instruments covering forex trading, stock trading, commodity trading, indices trading, crypto trading, etc.
Traders get the ability to trade several assets through a single account type that comes with all the essential features and services. The broker provides unlimited commission-free trading with low spreads.
The service provider offers best in class and advanced trading platforms for web, desktop and mobile trading. It also provides an exceptional social trading app for copy trading.
The broker provides advanced trading education and research support. You can deposit and withdraw funds through multiple payment methods with zero commission. The support from the broker is outstanding and provides the best trading assistance.
eToro Review: Regulations and Safety
The broker started its operations in 2007, has various offices globally and regulated under multiple financial authorities across the globe.
- eToro (Europe) Ltd – authorised and regulated by the Cyprus Securities and Exchange Commission (CySEC) under license no 109/10.
- eToro (UK) Ltd – authorised and regulated by the UK Financial Conduct Authority (FCA) under license no. FRN 583263.
- eToro AUS Capital Pty Ltd – authorised and regulated by the Australian Securities and Investments Commission (ASIC) to provide financial services under its Australian Financial Services License 491139.
- eToro (Seychelles) Ltd- authorised and regulated by the Financial Services Authority Seychelles (FSAS) under license no SD076.
Moreover, the brokerage firm is also part of the Cyprus Investor Compensation Fund (ICF) and the UK Financial Services Compensation Scheme. The broker uses the top tier financial banks to hold and segregate the client’s funds.
eToro has the best and exceptional track record of more than 14 years in the brokerage industry. It is the safest place for all your trading and investing needs. You can confidently and fearlessly start your trading career with one of the most reputed and trusted brokers, eToro.
eToro Review: Trading Account Types
eToro offers only a single account type. The account type comes with all essential services and features. Commission-free trading and low spreads and swap charges.
- Minimum Deposit: $200
- Maximum Leverage: 1:30
- Spreads: Starts from 1 pip
- Negative Balance Protection
- Copy Trading
- 2000+ Tradable Assets
The broker also offers a demo account and an Islamic swap-free account. The demo account comes with virtual currency, and all trading features are the same as a real account, where you can develop your trading skills without losing cash.
The broker also offers a professional account for experienced traders with a higher specification and features like low spreads, high leverage 1:400.
eToro Review: Account Opening Process
The account opening process is simple and hassle-free. You can open a live trading account within few minutes and start your trading by following some simple steps:
- Visit the official website of eToro (www.etoro.com) and click on the open account tab.
- Fill in the essential details regarding your personal information like name, DOB, email, mobile number and address.
- Upload the documents for KYC like ID proof and address proof. ( Driving license, National Identity, Passport any one of these for ID verification and the latest bank statement or utility bill for address proof)
- Deposit a minimum deposit of $200 and start your trading journey.
eToro Accepted Countries
eToro accepts traders from Australia, Thailand, United States, United Kingdom, South Africa, France, Germany, Norway, Sweden, Italy, Denmark, United Arab Emirates, Kuwait, Luxembourg, Qatar and most other countries.
eToro Review: Trading Instruments and Markets
eToro offers the ability to trade on more than 2000+ tradable assets from various asset classes like Forex market, Stock market, Cryptocurrencies, Commodities, Indices, ETFs, CFD Trading etc.
- 50+ Currency pairs with maximum leverage 1:30 with low spreads starting from 1 pip
- 1000+ stocks from major stock markets across the globe with commission-free trading, and even you can buy a fraction of the share.
- 100+ cryptocurrencies for buying and selling, and storing.
- 30+ commodities for CFD trading, including Gold, Silver, Oil, Copper, etc.
- 13+ major indices
- 254+ ETFs
The broker also offers all these assets through CFDs, and you can speculate on the prices of assets and make money without owning the actual asset.
eToro Review: Trading Platform
The broker offers best in class and advanced trading platforms for trading through the web, desktop and mobile applications. The platform is user friendly and easy to operate for both beginners and experienced traders.
The mobile application is available for both android and ios. You can download the apps through the broker’s official website or play store/ app store.
Features of eToro Trading Platform:
- 2000+ Tradable assets
- One-click trading
- Real-time price alerts and execution
- Advanced charting tools
- 24/7 order placing the facility
- Advanced research tab
- Trading, investing and copy trading features accessible.
- Demo account with virtual currency of $100,000
Apart from this, service providers also grant access to ready-made copy portfolios, social trading.
eToro Review: Commissions and Spreads
eToro fees and commission policy are transparent and clearly mentioned on the website. There are no hidden charges applicable. The fees and spreads are variable as per trading assets.
Investing in Stocks, ETFs and Cryptocurrencies are commission-free, with only spreads payable. Spreads are different for each instrument.
CFD trading is also commission-free, with some spreads and swaps payable.
- Currencies – from 1 pip
- Commodities – from 1 pip
- Indices – from 100 pips
- Stocks and ETF CFDs – 0.09%
- Crypto CFDs – from 0.75%
The account opening and copy trading are free. Only you might get charged $10 as inactivity fees if there is no trading activity for more than 12 months.
eToro Review: Deposits and Withdrawals
The broker provides a wide range of payment options for deposits and withdrawals. The deposits are commission-free. Most deposit transactions are processed within the same day and accept bank transfers which might take 3-4 business days.
- Bank Wire Transfer
- Credit/ Debit Card
- Rapid Transfer
Withdrawals are commission-based and charged $5 and can be processed through bank transfer, credit/debit card and PayPal. Withdrawals are processed on the same day but might take a different time based on payment methods.
eToro Review: Research and Education
The broker offers a wide range of research and analysis material. Traders also get the Economic calendar and Earnings report calendar.
- Daily Market Analysis
- Live webcasts
- Trading Central research and analysis platform
- Wall Street Journal subscription
- Financial Times subscription and more.
Traders get a broad range of quality and informative educational resources and tools through the eToro learning lab and trading school. Traders can learn different trading methods and trading guides through live or classroom-based courses. It also provides some of the following resources:
eToro Review: Customer Support
The customer support of eToro is quite responsive and offers fast assistance and resolve your queries. You have to raise the tickets for getting any answer to your questions. You can track and open your tickets through the help centre section on the website. The live chat option is available for selected locations.
- Address: eToro (UK) Ltd, 24th floor, One Canada Square, Canary Wharf, London, E14 5AB
- Email: [email protected]
- Phone: +44 02038687213
This is the detailed eToro review based on various factors and services. The broker offers a wide range of trading instruments through an advanced trading platform and competitive spreads. Most importantly, the broker is highly regulated by the various financial institutions across the globe. eToro is the safest and trusted brokerage platform.
The broker offers the best and advanced trading experience and trading conditions compared to other brokerage firms in the market. Even beginners can start trading with eToro and get success in the financial market.
Please note that CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Why Trade With eToro?
The broker is the most trusted and reliable thein the industry. It is regulated and authorised by the CySEC, FSA, FCA, ASIC and follows all the rules and regulations of MiFID.
The minimum deposit of $200 is essential at eToro to start trading.
The broker offers maximum leverage of 1:30.
Yes, the broker accepts clients from the US, but it doesn’t offer CFD trading to US clients.